Aliko Dangote, Africa’s leading industrialist, has announced that petrol produced from his 650,000 barrels per day refinery will be available at filling stations within the next 48 hours. This follows the formal production of petrol at the refinery, which was announced during a press briefing on Tuesday.
Dangote revealed that the modalities with the Nigerian National Petroleum Company Limited (NNPCL) are being finalized, and once completed, the petrol will be rolled out to the market. He also stated that the pricing of petrol from his refinery will be determined by the Federal Executive Council, led by President Bola Ahmed Tinubu.
The refinery, which commenced operations in December 2023, has already begun supplying diesel and aviation fuel to marketers in the country. Dangote expressed his gratitude to President Tinubu for introducing the “Naira for crude” initiative, which he believes will reduce the demand for foreign exchange by 40% and stabilize the Naira.
The refinery is expected to achieve its full capacity of 650,000 barrels per day by the end of the year, making it a significant player in Nigeria’s petroleum industry. With the introduction of petrol from Dangote’s refinery, Nigerians can expect a significant increase in the availability of petroleum products, which may lead to a reduction in prices and improved economic activity.
